No Win No Fee means that you will never have to pay a penny unless we are successful in obtaining compensation for you. For financial mis-selling and car finance claims if Chase Monro Claims runs any claim ‘in-house’ (i.e. we process the case using the team from within our firm) we charge all clients a fee between 18% and 36% including VAT, the exact fee is dependent on the level of compensation received. This fee is only payable upon the success of any claim.
If your claim is referred to Elmwood Law and you end Elmwood Law’s agreement before the claim is won, Elmwood Law may charge for work done at its hourly rates of £142 to £295 per hour plus VAT and disbursements.
In the event that the Client terminates the Contract after 14 days the Company reserves the right to charge the Client, at the Company’s standard hourly rate (£100 inc VAT), such preparation, processing, and submission costs as may have been incurred by the Company up to the time the Clients notice of cancellation has been received by the Company. The Company shall limit any charge to what is reasonable in the circumstances. If such termination takes place once the Third Party has made an offer of Compensation, the Company shall have the right to impose a charge equivalent to the Service Charges that would be payable if the offer was accepted.
However, when a claim needs to be litigated it is referred to a law firm (Elmwood Law), which charges a percentage fee of 18% to 36% (including VAT) of the compensation recovered, capped by band, and all claims are referred on a No Win No Fee basis. The respective fee will always be clearly outlined to all clients at the time of referral and the client will be given the opportunity to decide whether or not to proceed on that basis. Chase Monro will receive a referral fee from the Solicitors where a case is referred.
